Aurora/Antares in the AFR, page-7

Thanks for the article tdk, it does add some extra info to the announcements Aurora have made recently and I for one never thought they were evil, just looking after num1 like all of us.

From a shareholders' perspective the administrator burns cash which is bad but it's probably fair to say that we can take any announcements made by them at face value which is an improvement on wondering whether JC was being optimistic with an announced sale. For shareholders this is fairly binary now - some chance of a decent return, bigger chance of nothing, so the eg $15m (pure guess - not sure what the arrangement is since we've got no cash) admin fees are probably not that important?

The 6 month extension is not a time limit on making a sale - the convening period just give them until November ish to report back their findings and make a recommendation about whether to liquidate etc.. Personally more time is better for the oil price (most likely) so the longer they take is better?

If they do find a buyer at a price similar to the Wade deal then shareholders and note holders interests become perfectly aligned and that is why I'm not writing this off yet!

I'd guess that if the administrator finds a buyer for all the assets they will then recommend a liquidation which I don't think anyone would complain about. If they sell say NS alone then they would pay off the debt (and administrator fees) and relist with some cash left over but who would run the company and with what mandate?

Good luck all (note holders and shareholders alike)
Pb